Surge Battery Metals: JV with Evolution Mining & PFS Update | Graham Harris

In this episode, we (Howard & Rodney) sit down again with Graham Harris, Chairman of Surge Battery Metals (TSXV: NILI | OTC: NILIF), for a focused update on the Nevada North Lithium Project (NNLP) and recent corporate developments relevant to retail investors.

We cover:

- Project Update & PEA Context: A brief recap of the June PEA and how the current workstream is geared toward the upcoming Pre-Feasibility Study (PFS).
- Exploration & By-Products: Why the team is now assaying for rubidium and cesium, how those tests fit into the 9-hole fall drill program, and what would be required for any by-product economics to matter.
- Drill Program & Timeline: The fall infill program (targeting high-grade zones, ~600 ft depths) aimed at upgrading resources for the PFS, with drilling expected to wrap late Oct/early Nov (weather permitting).
- Land & Water Access: New LOI/MOU elements around private land access and water rights with Salmon River, plus ongoing collaboration to balance hydrology, grazing, and project needs.
- Consolidation of Ground: Closing the remaining Texas Spring claims to improve siting options for future infrastructure.
- Evolution Mining LOI: A non-binding JV framework to consolidate mineral interests and fund PFS activities, subject to final structure/tax work and definitive agreements.
- Balance Sheet & Funding: A C$5M financing (closing Oct 5, no JV close condition), ~C$7M cash balance, and expectations that PFS costs are funded by the prospective JV partner.
- Sector Backdrop: Market reaction to recent Lithium Americas headlines and broader U.S. policy signals around domestic critical minerals—and what that could mean for Nevada sedimentary lithium projects.

Why watch: If you follow early-stage lithium developers, this conversation provides clear milestones to track—assay scope expansion, infill drilling results, permitting/de-risking steps, JV finalization, and the path to PFS.

Tickers Mentioned:
Surge Battery Metals — TSXV: NILI | OTC: NILIF
Lithium Americas — NYSE/TSX: LAC (context)

Key Topics for Search & Discovery:
lithium stocks, Nevada lithium, clay-hosted lithium, Surge Battery Metals NILI NILIF, Evolution Mining JV, lithium PEA vs PFS, rubidium cesium by-products, mining water rights Nevada, retail investor lithium, critical minerals policy USA

Chapters: See timestamps in the video for: company update, by-product assays, drill program, land & water agreements, Evolution LOI, financing, and sector context.

Learn more about Surge Battery Metals (NILI):
- Website: https://surgebatterymetals.com/
- X (Twitter): https://x.com/SurgeBattery
- LinkedIn: https://www.linkedin.com/company/surge-battery-metals-inc/

If you found this content valuable, don't forget to like, subscribe and comment!

📖 Chapters
(00:00) Introduction
(03:07) Rubidium and Cesium Results
(04:16) Byproduct Potential
(04:54) Texas Spring Claims Acquisition
(05:56) Land and Water Agreements
(08:55) Drill Program & PFS Timeline
(10:44) Evolution JV Terms
(13:15) Evolution Partnership Benefits
(15:20) Capital Raise & Funding Status
(17:09) U.S. Critical Minerals Support
(20:40) Surge's Positioning & PFS Goals

🌍 Links

- Read Matt’s research blog: https://blog.rkequity.com/
- Sign up for the Lithium-Ion Bull newsletter: https://rkequity.com/
- Learn more about USCF: https://www.uscfinvestments.com/
- Learn more about Lithium Royalty Corp: https://www.lithiumroyaltycorp.com/

Patreon: https://www.patreon.com/rockstockchannel
Podcast:
  Apple Podcast: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172
  Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq
X (Twitter):
  Howard: https://x.com/LithiumIonBull
  Rodney: https://x.com/RodneyHooper13
  Matt: https://x.com/matt_fernley

_________________________________________________

DISCLAIMER

NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH

Rodney and Howard are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity’s website https://www.rkequity.com

Intro and outro audio credit: Jamie Klein